WINSTON-SALEM, N.CÂ — BB&T Corp. introduced its third prepaid product in the past year, according to a news release.
The new BB&T Payroll Card is less expensive, safer and more reliable than traditional paper payroll checks, said Scott Qualls, BB&T's deposit access products division manager.
The branded prepaid card lets employers pay employees directly by loading funds onto a debit card instead of issuing paper checks. Employers can load funds using their standard automated clearinghouse direct deposit process. Cardholders can use the cards at the POS or ATM.
"The BB&T Payroll Card provides our corporate clients with a reliable cost-effective alternative to paper payroll checks," Qualls said. "It is ideal for situations when employees either do not qualify for, or do not, want a checking account.
"Employers can provide their workforce with the positive benefit of a more convenient, safer and less expensive method for receiving their pay versus traditional paper check."
BB&T also offers a money transfer prepaid card called EasySend (EnvioFacil in Spanish) and a child support prepaid card. The BB&T Payroll Card and EasySend were designed to meet the needs of the growing unbanked population in the United States.
